- As discussed in Last Analysis As per time analysis 27 Oct is another important trend change date for Bank nifty. As Bulls were unable to close above 25050,we had gap down opening and once below 24928 bears did the first target of 24840 near the gann angle support. Till we are below 24928 bears have upper hand can push nifty towards 24600/24476/24000.Bullish above 25050 for next move towards 25200/25560/25920. As we have time cycle turn date so high and low of Friday is important, break of high and low can easily give 250-300 points. Bank Nifty bounced from lower end of the gann angle and also held the time cycle low of 24798 low made today was 24808 but again failed to close above 25050. As we have monthly closing tommrow,Close above 25050 will be bullish for November month. Bullish above 25050 for next move towards 25200/25560/25920. Below 24928 bears have upper hand can push nifty towards 24600/24476/24000. Do everything with trust
- Bank Nifty Nov Future Open Interest Volume is at 17.4 lakh with addition of 0.58 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @24786,closed above it.
- 25000 CE is having highest OI @5.5 Lakh resistance at 25000 followed 25500.24000-26000 CE added 1.1 lakh in OI so bears added good amount of position as bank nifty close below 25000-25050.
- 24500 PE is having highest OI @14.6 Lakh, strong support at 24000 followed by 23800.24000-26000 PE added 1.4 lakh in OI so bulls added position in lower end of range.
- Bank Nifty Futures Trend Deciding level is 25071 (For Intraday Traders). BNF Trend Changer Level (Positional Traders) 25054 How to trade Nifty Futures and Bank Nifty Futures as per Trend Changer Level .
Buy above 25025 Tgt 25080,25160 and 25220 (Bank Nifty Spot Levels)
Sell below 24930 Tgt 24860,24750 and 24680 (Bank Nifty Spot Levels)